In this article, we will review Binance is the world’s leading cryptocurrency exchange founded by Changpeng Zao (aka CZ) in July 2017. Your new Favorite App for Cryptocurrency Trading. You also get a 25% discount when using BNB, which is Binance’s crypto token. As of December 2020, the BTC withdrawal fees are 0.0004BTC, while ETH withdrawal fees are 0.003 ETH. As transaction volume increases, so do fees. Depending on the cryptocurrency in question, the fees can range from $1 to $15. Buy, sell and trade cryptocurrency on the go with the new Binance.US app 2.0. Learn more. Binance withdrawal time. On the other hand, if you withdraw your money to a bank account, the transaction fees charged by the exchange vary according to the fiat currency you choose. Binance has zero deposit fees, but things are different for withdrawal fees. General: 0.1% spot trading fee; 0.5% Instant Buy/Sell fee. This means two things. Binance account holders that trade less than 50 BTC during the previous 30 days will pay maker/taker fees of 0.1%, Binance’s highest fee rate (more about what a maker/taker fee is). Normally, Binance withdrawal processing time is quick, and usually take no longer than 30 minutes to reach your crypto wallet. You can withdraw your money through XRP using coins.ph (where you will end up with XRP in your coins.ph wallet) or as cash using the P2P system where prices are around 48-49 PHP/USDT (where you end up with cash on your bank account/gcash). Binance’s lowest fee rate is 0.02% maker / 0.04% taker. Trading Fee. That fee drops to .02% for makers and .04% for takers when exchanging futures. Today, we would like to explain & demonstrate to you, why it is absolutely crucial to pay your fees in BNB (Binance Coin) on the cryptocurrency exchange Binance.com. By default, if you hold BNB in your account, your trading fees will be automatically deducted from your BNB balance. ). It makes sure that the withdrawal fees are constant. But if this could be of some help, I think that it's best to convert your money into stablecoins if you want to trade. Transactions on Binance Smart Chain are processed within seconds (thanks to 5-second block times), while transaction fees are typically in the $0.01 to $0.03 range, making it one of the most competitive smart contract networks in the market. What is Binance? You get a 25% discount (subject to change) from your trading fee if you use BNB to pay for trading fees. 24h % … The highest fee-discount level Binance offers (VIP 8) requires you to trade at least 150,000 BTC in volume over 30 days and hold at least 11,000 BNB. For example, if you wanted to buy $100 in BTC from Binance, the fee would be only $0.05 vs. Coinbase at $3.00! You can learn more about this comparison by reading my new blog: Coinbase vs. Binance Binance withdrawal fees. Read more. There are a few advantages to using Binance over Coinbase regarding fees. Price. With Binance, your fees will be astronomically lower than Coinbase and even Coinbase Pro. Hi, I'm not from UK. And I don't recommend you using the convert function on binance as it charges you around 1-2% for fees as opposed to if you use limit order in spot trading which is only 0.1% without referral (see your fee schedule on your profile). If you choose to pay your Binance fees in BNB, the VIP 8 level comes with a maker fee of 0.015% and a taker fee of 0.03%. For Binance, you’ll pay .1% for both maker and taker fees. Binance's transaction fees are 0.1% of the trading value so I don't get why you couldnt convert it to altcoins. Cryptocurrency. It was initially situated in China; however, it was later moved from there because of China’s strict cryptocurrency laws and currently has its headquarters in Malta.

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